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STEWARDS OF TOMORROW 1 THE PORT OF VIRGINIA A CLEAR VISION. A PATH FORWARD.
STEWARDS OF TOMORROW 1
THE PORT OF VIRGINIAA CLEAR VISION. A PATH FORWARD.
2STEWARDS OF TOMORROW
FY 2015 – Strong Planning. Strong
Results.
Success at The Port of Richmond
Our Vision Forward
AGENDA
3STEWARDS OF TOMORROW
2.5 million 20-Foot Equivalent Units
(TEUs)
9% growth over FY 2014
FY 2015: STRONG PLANNING.
STRONG RESULTS.
+ 4.2%
+ 10.9%+ 12%
+ 5.9%
4STEWARDS OF TOMORROW
FY 2015: STRONG PLANNING.
STRONG RESULTS.
$208.62 $209.26
$287.73 $310.64
$352.33
$396.67
$458.00
$-
$100.00
$200.00
$300.00
$400.00
$500.00
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Consolidated Operating Income
FY 2009 and FY 2010 do not include APM statistics.Operating Revenue Compound Annual Growth Rate 2011 – 2014 = 11.3%
5STEWARDS OF TOMORROW
FY 2015: STRONG PLANNING.
STRONG RESULTS.
20.4918.51
20.05
11.20
15.51 16.56
14.20
25.00
20.00
15.00
10.00
5.00
0.00
5.00
10.00
15.00
20.00
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Actual Operating Loss
A $30+ million change in direction.
STEWARDS OF TOMORROW 6
A STATEWIDE FOOTPRINTLEVERAGING THE POWER OF THE PORT
VIRGINIA INTERNATIONAL GATEWAY
7STEWARDS OF TOMORROW
Economic engine for the Commonwealth
39 major companies have located near
the Virginia Inland Port
Investment of nearly $748 Million
Over 8 Million sq. ft. of buildings
Employment of over 8,000 people
VIRGINIA INLAND PORT
A Catalyst for the Commonwealth
8STEWARDS OF TOMORROW
Richmo
nd
LOGISTICS ASSETS WITHIN 50 MILES OF RICHMOND
A Catalyst for the Commonwealth
Distribution Sites
• Port of Richmond
• CSX Rail and NS Rail
• James River barge
service
• Interstates 95, 64, 85,
295
• Richmond International
Airport
• Foreign Trade Zone #20
• Forts AP Hill and Pickett
STEWARDS OF TOMORROW 9
THE PORT OF RICHMOND
Land acreage: 121Wharf: 1,600 feet Rail service via CSX; NS via local switchBarge service with NIT and VIG
A CATALYST FOR THE COMMONWEALTH
10STEWARDS OF TOMORROW
PORT OF RICHMOND VISION
A Catalyst for the Commonwealth
Develop the Port of Richmond as:
A self-sustainable transportation node
A valuable asset to The Port of Virginia, the City of Richmond,
and the Commonwealth
This is accomplished through strategic investments and full
integration of the Port of Richmond terminal and barge operations
11STEWARDS OF TOMORROW
64 EXPRESS MARINE
HIGHWAY CONNECTOR
Six lines offering bills of lading
• Yang Ming, MOL, MSC, CMA-CGM, ZIM,
NYK
Additional offerings
• Expeditors NVO (Hyundai Marine)
• Hapag-Lloyd (terminate import
containers at POR)
Averaging 185 moves/week
12STEWARDS OF TOMORROW
CAPITAL INVESTMENTS
• $7.2 Million Initial capital investment for infrastructure upgrades and increase in the facility’s safety standards
• $1.6 Million Annual maintenance to ensure safety and maximize operations
• $3.2 Million Rail enhancements to achieve dual access
• $4.2 Million Mobile harbor crane to be delivered in April 2016
• $315,000 Dredging plan beginning in October
• $1.3 Million New operating equipment: one top loader, six bomb carts, three hustlers
Record Revenues. The Responsibility to Reinvest.
Total $17.8 million
STEWARDS OF TOMORROW 13
VOLUME GROWTH AT POR
3,205 3,241
6,446
4,821 4,775
9,596
6,6997,415
14,114
0
2000
4000
6000
8000
10000
12000
14000
16000
Import Export Total
FY 2013 FY 2014 FY 2015
+55%+39%
+47%
14STEWARDS OF TOMORROW
NEW CUSTOMERS
Precept Medical
R1 Rubber
Sabra
Simms Metal
Expeditors
Luck stone
Open Plan Systems
Providence
Ongoing efforts with City Economic
Development to identify Commerce Road
Corridor opportunities, users, investment
strategies
Two independent studies: VCU and RKJohns
A Catalyst for the Commonwealth
STEWARDS OF TOMORROW 15
RICHMOND AREA PORT USERS
MeadWestvaco
Scoular
Philip Morris
Universal Leaf
Evergreen Enterprises
Lumber Liquidators
Country Vintner
DuPont
Honeywell
Alcoa
Carpenter
AMF
Evonik
Bondioli and Pavesi
Southern States
Amsted Rail
Marva Marble
Maruchan
American Signature
Reynolds
Alfa-Laval
16STEWARDS OF TOMORROW
THE “RICHMOND MODEL”
A Catalyst for the Commonwealth
Built on success in Savannah, GA
Develop Commerce Corridor potential
Leveraging various city of Richmond owned sites - ranging from 1 to 22 acres
Identifying ancillary opportunities to support the Commerce Road corridor
Inclusion of a Pathway to Employment Program
17STEWARDS OF TOMORROW
A long-term lease means:
A clear vision
Unified marketing efforts
A strong infrastructure
Commitments to Economic Development
The ability to leverage services/abilities
at The Port of Virginia
ONE PORT. ONE VISION.
A Catalyst for the Commonwealth
STEWARDS OF TOMORROW 18
THE PORT OF VIRGINIATHANK YOU
REDEVELOPMENT OF THE COMMERCE ROAD CORRIDOR LEVERAGING THE PORT OF RICHMOND Bipartisan Policy Center Infrastructure Council December 17, 2015
Dusty Holcombe
Overview
• Introduction to the VAP3
• VAP3’s Role in Virginia • P3 Project Delivery Framework
• P3 Risk Management Framework
• VAP3’s Role in the Project
Virginia’s P3 Background
Virginia enacted PPTA (1995), PPEA (2002) and established a dedicated P3 office (2010)
• Successful P3 track record
• Receptive political environment towards P3 projects
• Strong institutional knowledge of P3 project delivery
• Strong public engagement and outreach • Delivery of tangible transportation, social, & economic benefits
Transportation Agency Organization
Commonwealth of Virginia Secretary of
Transportation
Department of Motor Vehicles
Virginia Port Authority
Department of Transportation
Department of Rail and Public Transportation
Department of Aviation
Commercial Space Flight
Authority
Virginia Office of Public-
Private Partnerships
Office of Intermodal
Planning and Investment
VAP3 Structure and Resources
VAP3’s Role in Virginia
• Educate and communicate the role of P3’s in program and project
development.
• Develop consistent and fair P3 procurement and project development processes.
• Identify, manage and/or mitigate risks related to P3 projects.
• Facilitate the development of P3 projects across all transportation agencies and jurisdictions.
• Identify and screen potential P3 projects and concepts within the P3 Pipeline.
Overview P3 Project Delivery Framework
Project Screening
Project Development
Comprehensive Agreement Executed
Detail-Level Screening
Project Identification
Project Procurement
RPE Implements/VAP3 Supports
High-Level Screening
Project Screening
High-Level Criteria: • Ability to Transfer Risk
• Funding Requirement
• Ability to Raise Capital
• Complexity of Effectively Leveraging Private Sector Innovation/Expertise
• Addresses Priorities in State, Regional and/or Local Transportation Plan
• Project Efficiencies through P3 Delivery
Detail-Level Criteria: • Public Need and Benefits
• Economic Development
• Market Demand for P3 Delivery
• Stakeholder Support
• Technical Feasibility
• Systematic Interface and Compatibility
• Financial Feasibility
• Legal/Legislative Feasibility
• Project Risks
Overview P3 Risk Management Framework
Overview P3 Risk Management Framework
VAP3’s Role in the Project
Redevelopment of the Commerce Road Corridor Leveraging the Port of Richmond • Utilize the P3 Project Delivery Framework to evaluate the candidacy
of the Project as a P3 • Utilize the P3 Risk Management Framework to identify, manage
and/or mitigate risks
• Facilitate the key stakeholders and identify a Project champion
• Work with the RPE to develop a roadmap for development of the Project as a P3
Project Screening
Project Development
Comprehensive Agreement Executed
Detail-Level Screening
Project Identification
Project Procurement
RPE Implements/VAP3 Supports
High-Level Screening
VAP3’s Role in the Project Current Status
The Project is currently in the
High-Level Screening
Key Stakeholders
Local: • City of Richmond • Economic Development
Authority of the City of Richmond
• Richmond Regional Planning District Commission
• Greater Richmond Partnership • Greater Richmond Chamber of
Commerce Federal: • U.S. Army Corps of Engineers • U.S. Economic Development
Authority
State: • Port of Virginia • Virginia Department of
Transportation • Virginia Department of Rail and
Public Transit • Virginia Community College
System • Virginia Economic
Development Authority • Virginia Board of Workforce
Development • Virginia Secretariat of
Agriculture and Forestry
REDEVELOPMENT OF THE COMMERCE ROAD CORRIDOR LEVERAGING THE PORT OF RICHMOND Bipartisan Policy Center Infrastructure Council December 17, 2015
Dusty Holcombe
